The Cotton Collection Private Limited said that the company has divested shares to Softlogic Holdings PLC’s subsidiary, ODEL PLC with effect from yesterday.
Niloufer Esufally Anverally, the founder and creator of the all Sri Lankan brand Cotton Collection maintains ownership of her alternate brand Leather Collection.
The retail arm of the Softlogic Group has a very strong footprint in the retail sector spanning the verticals of fashion, consumer electronics and furniture.
“This decision was inspired by the desire to dedicate more time to my family and it will also allow me to grow the Leather Collection brand to be a strong contender in today’s market,” she added.
Ashok Pathirage, Chairman of Softlogic Holdings PLC said, “Today marks a very momentous occasion in our journey to be Sri Lanka’s largest fashion and lifestyle retailer. Cotton Collection is a great brand that we have witnessed evolving over the years. It has its own loyal customer following and we feel this acquisition would form a perfect fit for our aspirations in elevating the fashion retail landscape of the country.”
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